Career and Education Opportunities for Personal Financial Planners in Grand Rapids, Michigan

Personal financial planners can find many career and educational opportunities in the Grand Rapids, Michigan area. About 4,800 people are currently employed as personal financial planners in Michigan. By 2016, this is expected to grow by 28% to 6,130 people employed. This is not quite as good as the national trend for personal financial planners, which sees this job pool growing by about 30.1% over the next eight years. Personal financial planners generally advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate.

Personal financial planners earn about $28 hourly or $59,060 yearly on average in Michigan and about $33 hourly or $69,050 per year on average nationally. Incomes for personal financial planners are better than in the overall category of Accounting and Auditing in Michigan, and better than the overall Accounting and Auditing category nationally. People working as personal financial planners can fill a number of jobs, such as: asset analyst, budget counselor, and financial counselor.

There are three schools within twenty-five miles of Grand Rapids where you can study to be a personal financial planner, among nineteen schools of higher education total in the Grand Rapids area. Given that the most common education level for personal financial planners is a Bachelor's degree, it will take about four years to learn to be a personal financial planner if you already have a high school diploma.

CAREER DESCRIPTION: Personal Financial Planner

Personal Financial Planner video from the State of New Jersey Dept. of Labor and Workforce Development

Personal financial planners analyze financial data obtained from clients to establish strategies for meeting clients' financial objectives. They also inspect clients' accounts and plans regularly to establish whether life changes or financial performance indicate a need for plan reassessment. Equally important, personal financial planners have to monitor financial market trends to insure that plans are effective, and to pinpoint any needed updates. They are often called upon to explain and document for clients the types of services that are to be provided, and the responsibilities to be taken by the personal financial advisor. They are expected to answer clients' questions about the purposes and specifics of financial plans and strategies. Finally, personal financial planners meet with clients' other advisers and investment bankers, to fully understand clients' financial goals and circumstances.

Every day, personal financial planners are expected to be able to articulate ideas and problems. They need to deal with basic arithmetic problems. It is also important that they think through problems and come up with general rules.

It is important for personal financial planners to build and maintain client bases, keeping current client plans up-to-date and recruiting new clients on an ongoing basis. They are often called upon to sell financial products such as stocks and insurance if licensed to do so. They also devise debt liquidation plans that include payoff priorities and timelines. They are sometimes expected to conduct seminars and workshops on financial planning topics such as retirement planning and the evaluation of severance packages. Somewhat less frequently, personal financial planners are also expected to open accounts for clients, and disburse funds from account to creditors as agents for clients.

Personal financial planners sometimes are asked to meet with clients' other advisers and investment bankers, to fully understand clients' financial goals and circumstances. And finally, they sometimes have to explain to individuals and groups the specifics of financial assistance available to college and university students, such as loans and scholarships.

Like many other jobs, personal financial planners must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Grand Rapids include:

Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.

Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.

Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.

Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.

Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Personal Financial Planner Training

Grand Valley State University - Allendale, MI

Grand Valley State University, 1 Campus Dr, Allendale, MI 49401-9403. Grand Valley State University is a large university located in Allendale, Michigan. It is a public school with primarily 4-year or above programs. It has 23,932 students and an admission rate of 78%. Grand Valley State University has a bachelor's degree program in Finance which graduated fifty-four students in 2008.

Cornerstone University - Grand Rapids, MI

Cornerstone University, 1001 E Beltline Ave NE, Grand Rapids, MI 49525-5897. Cornerstone University is a small university located in Grand Rapids, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,759 students and an admission rate of 75%. Cornerstone University has a bachelor's degree program in Finance which graduated four students in 2008.

Davenport University - Grand Rapids, MI

Davenport University, 6191 Kraft Avenue S.E., Grand Rapids, MI 49512-9396. Davenport University is a large university located in Grand Rapids, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 10,773 students and an admission rate of 91%. Davenport University has associate's degree, bachelor's degree, master's degree, and post-master's certificate programs in Finance which graduated seven, twenty-three, one, and zero students respectively in 2008.

CERTIFICATIONS

Accredited Tax Advisor:
This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.

Board Certified Estate Planner:
Board Certified in Estate Planning (BCE) is the only designation designed and offered to brokers, advisors, and planners who have clients interested in estate accumulation, preservation, and distribution.

Chartered Market Technician:
The Chartered Market Technician (CMT) designation is the culmination of a certification process in which candidates are required to demonstrate proficiency in a broad range of technical analysis of the financial markets.

Certified Retirement Specialist:
If you are a professional with an interest in issues and opportunities in the 403(b) marketplace, advance your career by obtaining the Certified Retirement Specialist (CRS) designation.

LOCATION INFORMATION: Grand Rapids, Michigan

Grand Rapids, Michigan photo by Grguy2011

Grand Rapids is located in Kent County, Michigan. It has a population of over 193,396, which has shrunk by 2.2% over the last ten years. The cost of living index in Grand Rapids, 81, is well below the national average. New single-family homes in Grand Rapids cost $98,700 on average, which is far less than the state average. In 2008, forty-three new homes were built in Grand Rapids, down from ninety-two the previous year.

The three most popular industries for women in Grand Rapids are health care, educational services, and accommodation and food services. For men, it is construction, transportation equipment, and educational services. The average travel time to work is about 19 minutes. More than 23.8% of Grand Rapids residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 8.0%, is lower than the state average.

The unemployment rate in Grand Rapids is 15.4%, which is greater than Michigan's average of 14.3%.

The percentage of Grand Rapids residents that are affiliated with a religious congregation, 52.9%, is more than both the national and state average. Church of Jesus Christ, Immanuel Church and Trinity Church are among the churches located in Grand Rapids. The most prominent religious groups are the Catholic Church, the Christian Reformed Church in North America and the Reformed Church in America.

Grand Rapids is home to the Kent Country Club and the Walker Juvenile Court as well as Comstock Riverside Park and Richmond Park. Visitors to Grand Rapids can choose from Hampton Inn Grand Rapids, Hampton Inn Grand Rapids/North- Mi and Hampton Inn Fax for temporary stays in the area.